Hedera Token (HBAR) has risen more than 5% amidst a bullish market. At the same time, new data suggests that this upward momentum may just be beginning.
Two factors, including whales increasing accumulation and bullish divergence signals on momentum charts, are reinforcing a more positive outlook compared to many other coins.
Whales quietly increase their positions
Large holders of HBAR are steadily increasing their holdings. On-chain data shows that the number of wallets holding at least 1 million tokens rose from 82.41 to 84.09 between August 16–23, while the number of wallets holding 10 million tokens increased from 106.59 to 107.86. With the current price around $0.24, this translates to millions of dollars being added to positions, indicating confidence in potential growth.
RSI divergence reinforces outlook
This accumulation trend is further supported by technical signals. Although the price dropped from $0.23 to $0.22 during the period of August 19–22, the RSI index rose from 43 to 51 — a bullish divergence indicating that buying pressure is quietly absorbing supply even as the spot price slightly decreases.
Important thresholds to watch
HBAR is currently trading around $0.24. If it breaks resistance at $0.27, this token could target the $0.3 mark, opening the possibility of outperforming the broader market. However, if it cannot hold above $0.22, HBAR risks deeper declines, with the $0.15 area seen as the next key support.
In summary, the accumulation by whales along with the improving RSI signal suggests that HBAR's pause is likely not a weakness but rather an accumulation phase before entering a new upward trend.